A Property blog by DEPPRO – The Depreciation Specialists.
RP Data have released their monthly snapshot of the median values and property growth within Australia. As expected the growth in house prices has continued throughout February with 29,552 new houses up for sale.
The Facts
Median Values and Growth Rates:
| City | House Price | Percentage Growth |
| Sydney | $680k | 13.7% |
| Melbourne | $515k | 7.4% |
| Brisbane | $452k | 5.9% |
| Adelaide | $410k | 3.4% |
| Canberra | $510k | 1.8% |
| Darwin | $530k | 1.6% |
| Hobart | $337k | 0.7% |
| Perth | $510k | 0.6% |
Number of Homes for Sale:
The amount of new homes being listed is on the rise with the below being calculated by RP data over the last 28 days with new homes which have not been on the market in the previous 6 months.
New Homes – 29,552
Total Homes – 103,047
Number of days on the Market
The number of days houses spend on the market varies between the cities in Australia, as would be expected the best performing city in terms of turnover is Sydney the full list is below:
| City | Houses | Units |
| Sydney | 29 Days | 26 Days |
| Melbourne | 43 Days | 61 Days |
| Brisbane | 75 Days | 75 Days |
| Adelaide | 74 Days | 72 Days |
| Perth | 83 Days | 84 Days |
| Hobart | 67 Days | 82 Days |
| Darwin | 106 Days | 119 Days |
| Canberra | 37 Days | 56 Days |
Other statistics released including vendor discounting, the percentage of difference between the listing price and sale price for each city and the most expensive houses sold.
You can view the full inforgraphic on the RP data website.
What does this mean for Property Investors
These statistics have multiple implications for property investors both those with existing homes and those wishing to start or expand their property portfolio. As we reported recently there has been a decrease in interest rates within Australia which has been good news for property investors purchasing properties however, it is also a good time for sellers in the current market.
With the amount of houses selling it is hard to tell if they are being bought by investors or long term residents, which can be difficult when deciding whether to sell your investment property. The good news is rental yields are on the rise meaning the ROI on investment properties is rising. There are other tax breaks and factors than can help with deciding the fate of the property.
Benefits including Investment property tax depreciation
Instead of selling your investment property you can enjoy the long term benefits including rental returns, negative gearing, self funded super fund benefits, increase your financial portfolio, tax depreciation and more. Long term financial security can be great especially when the market is still growing it can be tempting to sell when the market is doing well however, with the rise continuing it is probably best to hold on to the property.
For more information about tax depreciation you can contact us, find out more about depreciation schedules or order a report.
